SEOUL (Reuters) -Samsung Electronics Co Ltd could begin construction of a planned $17 billion U.S. chip plant in the third quarter of this year with a target to be operational in 2024, a South Korean newspaper reported late on Monday.

Samsung is planning to apply an advanced 5-nanometer extreme ultraviolet (EUV) lithography chip-making process at the plant, which is expected to be in Austin, Texas, the Electronic Times reported citing unnamed industry sources.